Fiscal Doomsday Averted...Or Was It?
Below is a list of House Members (including 16 Democrats in italics) who voted “No” on H.R 8 – “The American Taxpayer Relief Act of 2012.” Many out of fear of retribution in 2014, but a “No” vote nonetheless.
As predicted, the measure passed with 85 Republicans joining their “comrades” across the aisle to prevent what many believe happened long ago, a fall off the Fiscal Cliff!
-- The tax rate for individuals making more than $400,000 and couples making more than $450,000 will rise from the current 35 percent to the Clinton-era rate of 39.6 percent.
-- Itemized deductions will be capped for individuals making $250,000 and for married couples making $300,000.
-- Taxes on inherited estates will go up to 40 percent from 35 percent.
-- Unemployment insurance will be extended for a year for 2 million people.
-- The alternative minimum tax, a perennial issue, will be permanently adjusted for inflation.
-- Child care, tuition and research and development tax credits will be renewed.
-- The "Doc Fix" -- reimbursements for doctors who take Medicare patients -- will continue, but it won't be paid for out of the Obama administration's signature health care law.
The country is $16 Trillion in debt (and growing), and this bill does nothing to curb spending! That hurdle was put off until February - for the good of the country!
How in the world could any Republican support such legislation?
Those that did, notably John Boehner and Paul Ryan (Tea Party Favorite?) mistakenly believed they had no leverage in this battle and vowed to fight another day…the upcoming debt ceiling debate.
No leverage? The House was controlled by the Republican Party. Without their support, the bill does not pass. That certainly seems like leverage to me. Forget the public relations war, and do what’s right! 2014 is two years away “for Pete’s sake!”
No, they chose to wait for the debt ceiling increase, but in the end the President will get that too. That is unless we choose/cannot pay the nation’s debt which, in my opinion, means bankruptcy.
Then again, aren’t we technically bankrupt already by continuously borrowing from others to pay for today’s needs?
It has to stop. The nation knows it and the 151 Republicans listed below know it as well! They have earned the support of their constituents for the time being.
For the 85 Republicans who defected, their votes will not be forgotten and they will be dealt with accordingly in 2014, when our nation’s debt will likely exceed $18 trillion!
Until then I suggest the Republican Party consists solely of the 85 defectors. Let John Boehner lead them…not the House.
As for the 151 listed below, Republicans they are not…I suggest a different nomenclature yet to be determined. I sure someone in that group will rise to the top to lead them.
Congratulations Democrats you once again control the house…at least for now.
And, good luck Paul Ryan in future debates with Marco Rubio. He too voted “No” and I’m sure he’ll remind you of it in 2016!
P.S. - I suggest you read the bill!